Impact of intangible location attributes on residential property value in Nigeria
Urban violence in the form of ethnic and religious crises and even open warfare has been on the increase in many African cities in the recent years. Observation from literature shows that the role of intangible location attributes as mobilising agents are among the most important questions of...
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| Format: | Thesis |
| Language: | English English |
| Published: |
2012
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| Subjects: | |
| Online Access: | http://eprints.uthm.edu.my/2477/1/24p%20ALIYU%20AHMAD%20ALIYU.pdf http://eprints.uthm.edu.my/2477/2/ALIYU%20AHMAD%20ALIYU%20WATERMARK.pdf |
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| Summary: | Urban violence in the form of ethnic and religious crises and even open warfare has been
on the increase in many African cities in the recent years. Observation from literature
shows that the role of intangible location attributes as mobilising agents are among the
most important questions of this century as conflicts linked to ethnicity and religion
have led to significant destruction of life and residential properties. Due to the number of
crises in Jos metropolis over the last two decades, there has been a process of residential
segregation along religious lines, dividing the city into predominantly Christian and
Muslim areas. This thesis, therefore, attempts to examine the impact of intangible
location attributes on the values of residential properties in Jos metropolis, Nigeria. Data
were collected by interviews, self-administered surveys through questionnaire and direct
observation. The stratified random sampling technique was employed in order to
generate the data needed for the research. 1000 respondents and 10 consultancy firms
were selected among the occupiers of residential properties and estate firms respectively,
which form the sample size for the research. However, out of 1000 and 120
questionnaires administered to the respondents and estate firms respectively, only 876
and 110 were retrieved back. Simple percentage distribution tables, charts, graphs,
thematic analysis, photographs and narrations among others were used to analyse the
data for the research. The findings of the research revealed that intangible location
attributes are the main indicators that influence the values of residential properties in the
study area. It has also been established through the findings of this research that the
intangible attributes of location have great implication on the values of residential
properties in the study area. The results of the analysis show that there is relationship
between intangible location attributes and provision, availability and maintenance of
neighbourhood facilities in the study area. The research has contributed immensely to
the existing body of knowledge on residential property value indicators by introducing
intangible location attributes as additional and new phenomena that influence the values
of residential properties in the study area. The research has thrown up challenges,
especially in linking the importance of intangible location attributes in determining
residential property value with construction and real estate management, valuation, and
project development appraisal. There is an utmost need on the part of the estate
surveyors and valuers and real estate appraisers to take into account intangible location
attributes when carrying out valuation or feasibility and viability appraisals respectively
in the study area. There is also a need on the part of the investors and property
developers to take into consideration intangible attributes of location whenever they
want to embark on real estate investment to avoid wasting of capital. |
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